Duty-free and Travel Retail Market Report by Product Type (Beauty and Personal Care, Wines and Spirits, Tobacco, Eatables, Fashion Accessories and Hard Luxury, and Others), Distribution Channel (Airports, Airlines, Ferries, and Others), and Region 2024-20

Duty-free and Travel Retail Market Report by Product Type (Beauty and Personal Care, Wines and Spirits, Tobacco, Eatables, Fashion Accessories and Hard Luxury, and Others), Distribution Channel (Airports, Airlines, Ferries, and Others), and Region 2024-2032

The global duty-free and travel retail market size reached US$ 40.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 75.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.

Duty-free and travel retail refers to a retailing channel that offers tax-free goods to international travelers. It includes shops, stores, and outlets established in travel environments, such as airports, ferries, and seaports. Duty-free and travel retail sells wide-ranging products, including beauty and personal care, wine and spirits, tobacco, eatables, fashion accessories, and luxury items. It offers lower prices on goods and products, increases brand awareness, and provides convenience to travelers by delivering various merchandise. As a result, duty-free and travel retail generate significant revenue for the travel, tourism, aviation, and maritime industries.

Duty-free and Travel Retail Market Trends:
The significant growth in the tourism industry is one of the key factors driving the market growth. In line with this, the increased time spent by passengers at airports due to security concerns and early check-in times is favoring the market growth. Additionally, the increasing preference for luxury and premium products, such as cosmetics, fragrances, and alcohol, is acting as another growth-inducing factor. Besides this, the rising air travel and proliferation of new international airports due to the rapidly expanding aviation industry is providing a considerable boost to market growth. Moreover, the introduction of touch screens and interactive retail kiosks, which offers seamless ordering and payment solutions, is providing an impetus to the market growth. Apart from this, the widespread adoption of new marketing strategies by brands, such as launching exclusive and limited products and partnerships with prominent distribution chains to gain a competitive edge, is propelling the market growth. Furthermore, the implementation of various government initiatives promoting international tourism is positively influencing the market growth. Other factors, including rising expenditure capacities of the consumers, emerging trends of digitalization in retailing processes, the rising consumer inclination for premium wines and spirits, and the introduction of pre-ordering applications, are anticipated to drive the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global duty-free and travel retail market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

Beauty and Personal Care
Wines and Spirits
Tobacco
Eatables
Fashion Accessories and Hard Luxury
Others

Breakup by Distribution Channel:

Airports
Airlines
Ferries
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aer Rianta International, China Duty Free Group Co. Ltd., Dubai Duty Free, Dufry, Duty Free Americas Inc., Gebr. Heinemann SE & Co. KG, James Richardson Group, King Power International, Lagardère Travel Retail, Lotte Duty Free, Sinsegae Duty Free and The Shilla Duty Free.

Key Questions Answered in This Report

1. What was the size of the global duty-free and travel retail market in 2023?
2. What is the expected growth rate of the global duty-free and travel retail market during 2024-2032?
3. What are the key factors driving the global duty-free and travel retail market?
4. What has been the impact of COVID-19 on the global duty-free and travel retail market?
5. What is the breakup of the global duty-free and travel retail market based on the product type?
6. What is the breakup of the global duty-free and travel retail market based on the distribution channel?
7. What are the key regions in the global duty-free and travel retail market?
8. Who are the key players/companies in the global duty-free and travel retail market?